Oil prices rose today extending gains from yesterday’s session boosted today by a weaker dollar and bullish IEA oil demand forecasts. The market has turned around after dropping to hit its lowest in nearly six months during Wednesday’s session. The International Energy Agency forecasted world oil consumption will rise by 1.1MM/bpd in 2024, up 130K/bpd from its previous forecast. “Obviously the mood for oil has changed dramatically. One of the major catalysts for shaking volatility out of market was the Federal Reserve,” said Phil Flynn, an analyst at Price Futures Group. WTI traded up $2.11 or 3% to close at $71.58. Brent traded up $2.35 or 3.2% to close at $76.61.